Pursuits
S&P 500 Caps Longest Slump in 1 Month as Greece Offsets Economy
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The Standard & Poor’s 500 Index dropped a fourth day, the longest decline in a month, as concern Greece’s debt crisis is worsening offset better-than-estimated reports on U.S. housing starts and industrial production.
Financial stocks fell the most in the S&P 500 among 10 groups as Bank of America Corp. and JPMorgan Chase & Co. sank at least 2.1 percent. Alcoa Inc. slid 2.5 percent as commodities retreated after the Dollar Index rose for a record 13th straight day. J.C. Penney Co. tumbled 20 percent, the biggest drop ever, on disappointing results. General Motors Co. rose 2.3 percent as Berkshire Hathaway Inc. disclosed a stake in the automaker.